Pandemic Financial News

The U.S. economy’s prospects of a soft landing are getting a boost from an unexpected source: a historic rise in immigration. The inflow of foreign-born workers, which had slowed to a trickle in the years up to and including the pandemic, is now rising briskly as the U.S.

European battery startups are grappling with how to make less-expensive batteries at scale as they race to meet demand from an electrifying car industry, and while investors are still buying in, there is less enthusiasm than a few years ago. Battery production capacity to meet demand from car makers, whose electrification march is fueled by European Union climate policies, simply doesn’t exist yet in the EU, said Gert Meylemans, the general manager of Eurobat, an association that represents automotive and industrial battery manufacturers. Eurobat commissioned a study in 2019 that suggested battery supply would match demand by 2024.

It has been reported that household savings dropped to 50-year low in FY23. However, SBI Research says such a claim is misleading as it does not take into account the sum total of physical and financial savings.

The big decline in household savings rate after the pandemic – it came in at a near-five-decade low at the end of FY23 — reflects income constraints but also an ongoing structural shift favouring the financial markets, analysts say. There has been a shift away from conventional savings instruments in recent years, partly because the government has chosen to curtail incentives for savings, they reckon.

Potential homebuyers are optimistic about the economy and their future earnings, which augurs well for driving demand in the property market. Real estate, in fact, continues to be the preferred asset class with 48 per cent of the respondents opining that they would want to invest in property as it is a stable hedge against inflation and is a time-tested wealth-building tool, according to a survey conducted by Housing.com in collaboration with NAREDCO.

IBM Corp., Nike Inc. and Apple Inc. in a new ranking of employee wellbeing. Love’s Travel Stops & Country Stores scored 83 out of 100 in the first-ever survey from job site Indeed, part of Japan’s Recruit Holdings Co., which analyzed millions of anonymous employee reviews to rate US companies on happiness, stress, satisfaction and purpose. Only companies with 1,000 or more employees were eligible, and the top twenty ranged from airlines to consultancies to fast-food chains. Closely-held Love’s, which also operates a truck fleet, hotels and a logistics firm, employs more than 40,500 people including 1,500 at its Oklahoma City headquarters.We're on WhatsApp! Join the ET NRI Channel here The rankings reflect employers’ increased awareness and investments in wellbeing, a catch-all term that became a focus during the pandemic when employee burnout and mental-health issues like anxiety and depression skyrocketed. More than seven in ten people said their employer is now more concerned about their mental health than it was previously, the American Psychological Association (APA) found. Still, organizational efforts to boost wellbeing vary in terms of effectiveness. A survey of more than 2,000 US workers from human-resources technology firm Alight found that less than half believe their employer cares about their wellbeing.

Canberra Airport’s chief has blasted Qantas, accusing it of mistreating its staff and customers, and breaching contract conditions as he called for heavier regulation to finally bring the national carrier “to heel”.

Turkey's central bank has raised its key interest rate by 5 percentage points to 30%

U.S. applications for unemployment benefits fell to their lowest level in eight months last week as the labor market continues to show strength in the face of elevated interest rates

Delhi University Students' Union (DUSU) polls. Taking to X, Delhi Traffic Police said, "Today on dated 22.09.2023 DUSU election is to held in Delhi North Campus, Delhi University. Commuters are advised to avoid following route for their convenience: 1.

By Matt Tracy

MUMBAI : Moonlighting has waned in the tech services sector as a subdued job market, fewer freelance gigs and back-to-office policies shrink opportunities for employees keen to make a quick buck on the side. The change also marks a reversal of fortunes in the tech sector, where it had become a serious concern during the peak of the pandemic-fuelled boom. IT firms fretted that the trend would affect productivity, create conflicts of interest and cause data breaches.

U.S. applications for unemployment benefits fell to their lowest level in eight months last week as the labor market continues to show strength in the face of elevated interest rates

The Bank of England has paused nearly two years of interest rate increases after a surprising fall in U.K. inflation eased concerns about the pace of price rises

It's been nearly five months since the Hollywood writers strike began and more than two months since actors joined them

Turkey's central bank has raised its key interest rate by 5 percentage points to 30%

Sweden’s central bank has raised its key interest rate, saying the “inflationary pressures in the Swedish economy are still too high.”

By William Schomberg, Andy Bruce and Suban Abdulla

By Rajesh Kumar Singh

Tax incentives from central as well as state governments and flexible payment plans from builders will motivate prospective homebuyers to buy residential properties, according to a survey by Housing.com and Naredco. Proptech firm Housing.com and realtors' body Naredco on Thursday released their latest survey report titled "Residential Realty Consumer Sentiment Outlook H2 2023 — Trends and Insights".

Women Reservation Bill, 2023, or the ‘Nari Shakti Vandan Adhiniyam’, was passed with a whopping majority in the Lok Sabha on Wednesday. The bill calls to reserve one-third or 33% of all seats for women in the Lok Sabha and the state legislative assemblies.